The following are the transaction of kumarswami for the month of january2017 make journal entries post them in to ledger and balance the account
Jan1 capital paid in to bank 300000
Jan1 bought stationary for cash 400
Jan2 bought goods for cash 25000
Jan3bought postage stamps 600
Jan5 sold goods for cash 10000
Jan6 bought officer furniture from mahendra bros 40000
Answers
Answered by
2
following are the ledger balance of Mr John as on 31st December tr 2016
Dr.
trade expenses 2025
discount received 1370
salary 9287
travel expense 1430
discount allowed 400
capital 60100
drawings 6500
leasehold premier 40000
furniture 5000
Bank charges 134
Cr.
opening stock 15000
cash at bank 4650
reserves for double full debit 720
purchase 66235
sales 94000
carriage inward 2100
bad debts written off 1350
Sunday debtors 16000
sundry creditors 15421
rent 15000
adjustment
1. Mr John wife work in business and allowed a salary of 24 00 per annum. this amount has been included in drawings account.
2. write 2000 premises and 500 of furniture.
3. 4% of the salary debit as the 31st December 2016 is recoverable and should be written off the reserve for double full debate should be maintained at 5%.
4. rain due but not paid is 500 and the salary included 250 paid in advance to staff.
5. stock as on 31st December 2016 is valued a 15500.
Dr.
trade expenses 2025
discount received 1370
salary 9287
travel expense 1430
discount allowed 400
capital 60100
drawings 6500
leasehold premier 40000
furniture 5000
Bank charges 134
Cr.
opening stock 15000
cash at bank 4650
reserves for double full debit 720
purchase 66235
sales 94000
carriage inward 2100
bad debts written off 1350
Sunday debtors 16000
sundry creditors 15421
rent 15000
adjustment
1. Mr John wife work in business and allowed a salary of 24 00 per annum. this amount has been included in drawings account.
2. write 2000 premises and 500 of furniture.
3. 4% of the salary debit as the 31st December 2016 is recoverable and should be written off the reserve for double full debate should be maintained at 5%.
4. rain due but not paid is 500 and the salary included 250 paid in advance to staff.
5. stock as on 31st December 2016 is valued a 15500.
Similar questions